diff --git a/.prettierrc b/.prettierrc
index f45d2b8c574e4a..600a26c495189d 100644
--- a/.prettierrc
+++ b/.prettierrc
@@ -1,7 +1,7 @@
 {
   "arrowParens": "avoid",
+  "bracketSameLine": true,
   "bracketSpacing": false,
-  "jsxBracketSameLine": true,
   "requirePragma": true,
   "singleQuote": true,
   "trailingComma": "all"
diff --git a/packages/eslint-config-react-native-community/package.json b/packages/eslint-config-react-native-community/package.json
index bf80d296770fcc..fe4fa8e50547d2 100644
--- a/packages/eslint-config-react-native-community/package.json
+++ b/packages/eslint-config-react-native-community/package.json
@@ -23,7 +23,7 @@
     "eslint-plugin-react": "^7.20.0",
     "eslint-plugin-react-hooks": "^4.0.7",
     "eslint-plugin-react-native": "^3.10.0",
-    "prettier": "^2.0.2"
+    "prettier": "^2.4.1"
   },
   "peerDependencies": {
     "eslint": ">=7",
@@ -31,6 +31,6 @@
   },
   "devDependencies": {
     "eslint": "7.12.0",
-    "prettier": "^2.3.2"
+    "prettier": "^2.4.1"
   }
 }
diff --git a/packages/eslint-config-react-native-community/yarn.lock b/packages/eslint-config-react-native-community/yarn.lock
index 2029c4ca41a92a..be94f2a9629b7e 100644
--- a/packages/eslint-config-react-native-community/yarn.lock
+++ b/packages/eslint-config-react-native-community/yarn.lock
@@ -1140,10 +1140,10 @@ prettier-linter-helpers@^1.0.0:
   dependencies:
     fast-diff "^1.1.2"
 
-prettier@^2.0.2:
-  version "2.0.2"
-  resolved "https://registry.yarnpkg.com/prettier/-/prettier-2.0.2.tgz#1ba8f3eb92231e769b7fcd7cb73ae1b6b74ade08"
-  integrity sha512-5xJQIPT8BraI7ZnaDwSbu5zLrB6vvi8hVV58yHQ+QK64qrY40dULy0HSRlQ2/2IdzeBpjhDkqdcFBnFeDEMVdg==
+prettier@^2.4.1:
+  version "2.4.1"
+  resolved "https://registry.yarnpkg.com/prettier/-/prettier-2.4.1.tgz#671e11c89c14a4cfc876ce564106c4a6726c9f5c"
+  integrity sha512-9fbDAXSBcc6Bs1mZrDYb3XKzDLm4EXXL9sC1LqKP5rZkT6KRr/rf9amVUcODVXgguK/isJz0d0hP72WeaKWsvA==
 
 progress@^2.0.0:
   version "2.0.3"
diff --git a/packages/react-native-codegen/.prettierrc b/packages/react-native-codegen/.prettierrc
index f45d2b8c574e4a..600a26c495189d 100644
--- a/packages/react-native-codegen/.prettierrc
+++ b/packages/react-native-codegen/.prettierrc
@@ -1,7 +1,7 @@
 {
   "arrowParens": "avoid",
+  "bracketSameLine": true,
   "bracketSpacing": false,
-  "jsxBracketSameLine": true,
   "requirePragma": true,
   "singleQuote": true,
   "trailingComma": "all"
diff --git a/packages/react-native-codegen/package.json b/packages/react-native-codegen/package.json
index 95324c2ff731f2..aff3b93ece5dd9 100644
--- a/packages/react-native-codegen/package.json
+++ b/packages/react-native-codegen/package.json
@@ -37,6 +37,6 @@
     "invariant": "^2.2.4",
     "micromatch": "^4.0.2",
     "mkdirp": "^0.5.1",
-    "prettier": "1.19.1"
+    "prettier": "^2.4.1"
   }
 }
diff --git a/repo-config/package.json b/repo-config/package.json
index f94dbb7b66d7ec..1f3219e2d3c41a 100644
--- a/repo-config/package.json
+++ b/repo-config/package.json
@@ -43,7 +43,7 @@
     "metro-babel-register": "0.66.2",
     "metro-transform-plugins": "^0.66.2",
     "mkdirp": "^0.5.1",
-    "prettier": "1.19.1",
+    "prettier": "^2.4.1",
     "react": "17.0.2",
     "react-native-codegen": "^0.0.10",
     "react-shallow-renderer": "16.14.1",
diff --git a/template/_prettierrc.js b/template/_prettierrc.js
index 645abb25811b5f..2b540746a7575e 100644
--- a/template/_prettierrc.js
+++ b/template/_prettierrc.js
@@ -1,7 +1,7 @@
 module.exports = {
   arrowParens: 'avoid',
+  bracketSameLine: true,
   bracketSpacing: false,
-  jsxBracketSameLine: true,
   singleQuote: true,
   trailingComma: 'all',
 };
diff --git a/yarn.lock b/yarn.lock
index 7f4d55cba4c31b..937359a1983974 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -5453,10 +5453,10 @@ prelude-ls@~1.1.2:
   resolved "https://registry.yarnpkg.com/prelude-ls/-/prelude-ls-1.1.2.tgz#21932a549f5e52ffd9a827f570e04be62a97da54"
   integrity sha1-IZMqVJ9eUv/ZqCf1cOBL5iqX2lQ=
 
-prettier@1.19.1:
-  version "1.19.1"
-  resolved "https://registry.yarnpkg.com/prettier/-/prettier-1.19.1.tgz#f7d7f5ff8a9cd872a7be4ca142095956a60797cb"
-  integrity sha512-s7PoyDv/II1ObgQunCbB9PdLmUcBZcnWOcxDh7O0N/UwDEsHyqkW+Qh28jW+mVuCdx7gLB0BotYI1Y6uI9iyew==
+prettier@^2.4.1:
+  version "2.4.1"
+  resolved "https://registry.yarnpkg.com/prettier/-/prettier-2.4.1.tgz#671e11c89c14a4cfc876ce564106c4a6726c9f5c"
+  integrity sha512-9fbDAXSBcc6Bs1mZrDYb3XKzDLm4EXXL9sC1LqKP5rZkT6KRr/rf9amVUcODVXgguK/isJz0d0hP72WeaKWsvA==
 
 pretty-format@^24.9.0:
   version "24.9.0"